BUZZ-U.S. STOCKS ON THE MOVE-Axion, Trevena, Netflix, Dollar Tree

Reuters Staff

4 Min Read

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stock index futures fell sharply on Tuesday after data showed that China's manufacturing sector shrank at its fastest pace in three years and its services sector also showed signs of cooling. Dow Jones industrial average futures were down 2.62 percent at 16,076, S&P 500 futures were down 2.65 percent at 1,917 and Nasdaq 100 futures were down 2.73 percent at 4,155.

** AXION POWER INTERNATIONAL INC, Monday close $2.55, -20.78 pct

The lead-carbon battery maker said it received a notification from Nasdaq that it fell short of the minimum $2.5 mln stockholders’ equity for continued listing.

** TREVENA INC, Monday close $6, +34.17 pct

The drug developer said on Monday its experimental painkiller met main goal of reducing post-operative pain compared with placebo in a mid-stage study.

Iphone maker Apple Inc is looking to move into the original programming business to compete with video streaming companies such as Netflix Inc, Variety reported on Monday.

** DOLLAR TREE INC, Monday close $76.26, -6.65 pct

Discount retailer Dollar Tree’s quarterly sales rose less than analysts expected due to intense competition from retailers such as Wal-Mart Stores Inc and as it focused on closing the acquisition of Family Dollar Stores Inc.

** FREEPORT-MCMORAN INC, Monday close $10.64, -5.55 pct

Analysts at Citi Research cut rating on stock to “neutral” from “buy” and cut price target to $12 from $20, saying copper miners were not cutting enough production to stabilise falling prices.

** PENN WEST PETROLEUM LTD, Monday close $0.77

The Canadian oil and gas producer said it would lay off about 35 percent of its workforce and suspended its dividend as it copes with a slump in crude oil prices.

** WHIRLPOOL CORP, Monday close $168.1

** MIDDLEBY CORP, Monday close $108.55

The world’s biggest home appliance company, is set to battle Middleby for Britain’s Aga Rangemaster, the maker of range cookers synonymous with affluent British middle-class country life.

** CHIPOTLE MEXICAN GRILL INC, Monday close $710.01, -1.83 pct

A California woman has accused the popular chain in a lawsuit of false advertising after it trumpeted on April 27 that it was the first national restaurant company to use only ingredients that are free of controversial genetically modified organisms, or GMOs.

** FIAT CHRYSLER AUTOMOBILES, Monday close $14.13, -3.61 pct

The company is offering $100 prepaid debit cards to owners of recalled vehicles to help ensure cars and trucks with potential safety defects get repaired.

Amgen pulled out of the project because suicidal thoughts were observed in some patients taking the medicine, casting a shadow over its prospects. (Compiled by Amrutha Penumudi in Bengaluru; Edited by Don Sebastian)